This webinar recording addresses the issues associated with acquiring existing residential rental real estate for the purpose of rehabilitating it under the Low-Income Housing Tax Credit (LIHTC) program.

Original Air Date: August 19, 2020

Praise From Past Attendees
View Excerpt From Webinar

Duration: 3 hours
Access to Recording Expires: August 19, 2021

Instructors

Thomas Stagg, CPA
Partner
Novogradac

Wayne Michael, CPA, NPCC, HCCP
Principal, Senior Director of Education
Novogradac

Topics Covered

• Overview of initially qualifying units for claiming LIHTCs
• Significant dates for tax credit percentages
• Tack-back rule
• Acquisition
  • Land/building cost allocation
  • 10-year hold rule
  • Transfer of ownership issue
• Qualifying existing tenants/units
  • Income limits for acq/rehab deals
  • 120-day rule
  • Signature dates vs. effective dates on tenant income certification
  • Over-income existing tenants (whether previously existing LIHTC development or not)
  • Income certification complications if acquisition is delayed
  • Previously qualified vacant units
  • Safe harbor rule
  • 120-day, available-unit-rule test
• Rehabilitation (maximizing credits)
  • Rehab timing
  • Tenant transfers vs. moveouts
  • Occupied rehabs vs. vacant rehabs
  • End-of-the-month issues
  • Investor closing date (good vs. bad credits)
• Record-keeping tips

Target Audience

Asset managers, underwriters, development team members, property managers and anyone involved with the acquisition and/or rehabilitation process.

Terms and Conditions
Receiving Login Info and Handouts

Registration Rates*

Standard: $135
Nonprofit: $120
Multiple Registrants: $120/person ($105/person for nonprofits)

*The standard and nonprofit registration fee for live online webinars and for webinar recordings covers a SINGLE VIEWER ONLY. If multiple persons within an organization wish to view the webinar and/or its recording (regardless of whether they view it on a single computer or multiple computers), the organization must purchase a registration for each person.